MIRA
INFORM REPORT
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Report Date : |
16.08.2007 |
IDENTIFICATION DETAILS
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Name : |
MANOHAR INDUSTRIES |
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Registered Office : |
D – 195, Industrial Estate, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1981 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers of Valve components and related parts and spares for application
in Chemical, Petrochemical and Pharma Industries. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
- |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established concern having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/ Factory : |
D – 195, Industrial Estate, |
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Tel. No.: |
91-836-2331700 |
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Mobile No.: |
91-9886281025 |
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Fax No.: |
91-836-4259034 |
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E-Mail : |
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Website : |
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Area : |
4000 Sq. fts. (Built Up 2000 Sq. fts.) |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mrs. S B Kotturshettar |
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Designation : |
Proprietor |
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Date of Birth/Age : |
58 years |
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Qualification : |
Matric |
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Experience : |
25 years |
KEY EXECUTIVES
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Name : |
Mr. Manohar B. Kotturshettar |
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Designation : |
Manager |
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Mobile No.: |
91-9886281025 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Valve components and related parts and spares for
application in Chemical, Petrochemical and Pharma Industries. |
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Products: |
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Precision Ball Valve Components v
Butterfly Valve Components v
CNC Tuned Components v
Forged Components
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Terms : |
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Selling : |
Credit (60 days) |
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Purchasing : |
Credit (60 days) |
GENERAL INFORMATION
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Suppliers : |
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Asia Steel (Mumbai) v
Rolex Industries (Hubli) v
Mehta Metal Components (Mumbai) |
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Customers : |
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B D K Group (Hubli) v
Micro Finish Group (Hubli) v
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No. of Employees : |
15 (Production / Technical: 10; Other: 5) |
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Bankers : |
Canara Bank Traffic Island, Hubli, |
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Facilities : |
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Cash Credit – Rs. 1.000 million v
Term Loan – Rs. 1.000 million |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Mr. Vijay Baikoti Charted Accountant |
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Address : |
Hubli, |
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Memberships : |
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CAPITAL STRUCTURE
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Capital Investment : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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11.000 |
8.400 |
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Profit/Loss for the year |
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About 10% |
About 10% |
Average Value of Inventories at any given time: Rs. 2.000 millions
LOCAL AGENCY FURTHER INFORMATION
Website details attached:
Established in the year 1981 in the city of
Quality Policy
They strive to achieve highest customer satisfaction by supplying valve components. This is achieved through team work and continual improvement of their quality management system.
Infrastructure
The company has developed the necessary infrastructure required for machining and inspection of Stems and Glands. The machine components are produced in required numbers to suffice the needs of their clients. The measuring instruments of high quality to ensure superior output have been installed in the premises. The efficient team of professionals keeps a keen eye on the discrepancy, if any. They have latest machineries and equipment like:
- Centre Lathes Tools
- Milling Machine Tools
- Radial Drilling Machine Tools
- Power Hacksaw
- Power Generator
- Working Table
- Surface Table
- Bench Vice
- CNC Turning Centres
Quality Objective
- Increase in
customer satisfaction
- Expanding
business
- On time
delivery
- To achieve
zero rejection
Subject is committed to
provide superior quality machine tools and components to its valued customers.
They entered the market as the manufacturer of Precision Ball Valve
Components, Butterfly Valve Components, CNC Tuned Components, and Forged
Components and
since then are growing with leaps and bounds day after day, with each
transaction.
Patrons
Some of their reputed clients to whom they serve qualitative products are:
- Flowserve Microfinish Valves Private Limited.
- Microfinish Valves Limited.
- BDK Engineering Industries Limited.
- Belgaun Aqua Valves Private Limited.
- MKT Valves Private Limited.
Their company is enthused to deliver well than before with every order
received by us. Their establishment is delivering superior quality products and
services since more than two decades now and is enjoying the trust of its
valued customers.
They strive to maintain this sense of reliance
among their clients bringing them satisfaction with each business transaction
Primary
Competitive Advantages
Customer
satisfaction
Prompt Delivery
To achieve Zero Rejection
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 41.57 |
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1 |
Rs. 82.14 |
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Euro |
1 |
Rs. 55.74 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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